BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Update

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 311,992 shares, a drop of 42.2% from the February 12th total of 539,703 shares. Based on an average daily volume of 33,589 shares, the short-interest ratio is currently 9.3 days. Approximately 4.2% of the shares of the stock are short sold. Approximately 4.2% of the shares of the stock are short sold. Based on an average daily volume of 33,589 shares, the short-interest ratio is currently 9.3 days.

Institutional Trading of BTC Digital

An institutional investor recently raised its position in BTC Digital stock. SBI Securities Co. Ltd. grew its position in BTC Digital Ltd. (NASDAQ:BTCT) by 102.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,378 shares of the company’s stock after purchasing an additional 14,378 shares during the period. SBI Securities Co. Ltd. owned approximately 0.38% of BTC Digital worth $89,000 at the end of the most recent quarter. Institutional investors and hedge funds own 7.32% of the company’s stock.

BTC Digital Trading Down 0.9%

Shares of NASDAQ:BTCT traded down $0.01 during midday trading on Thursday, hitting $1.27. The company had a trading volume of 9,581 shares, compared to its average volume of 81,486. The firm has a fifty day simple moving average of $1.39 and a 200 day simple moving average of $1.97. The stock has a market cap of $9.54 million, a price-to-earnings ratio of -1.06 and a beta of 5.71. BTC Digital has a 12 month low of $1.07 and a 12 month high of $4.82.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of BTC Digital in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, BTC Digital presently has an average rating of “Sell”.

BTC Digital Company Profile

BTC Digital Ltd. a crypto asset technology company engages in bitcoin mining business. It is also involved in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, China.